Palladium Eyes $1,800 as Rally Resumes; Gold Drifts

Monday, 21 October 2019 16:02 WIB

GOLDEMAS Spot EmasPalladium


Palladium resumed its upward march after a brief retreat late last week, boosted by concerns over South African mine supply in an already tight market.

The metal, used to curb emissions from vehicle engines, reached a record $1,784.94 an ounce on Oct. 17.

Gold is little changed as investors weigh the latest trade and Brexit developments ahead of the Federal Reserve’s monetary policy decision at the end of this month. Money managers have decreased their bullish gold bets to a 12-week low, Friday’s CFTC data on futures and options showed.

Spot palladium jumped as much as 1.2% and was up 0.5% at $1,764.64/oz by 9:39am in London. Silver and platinum also gained. Spot gold was down 0.1% at $1,488.71/oz.

Source : Bloomberg


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